Buy Reliance Industries, Aurobindo Pharma on Dip

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "From Rs 1300 Reliance Industries has never looked back. Now we should expect Rs 1600-1650 coming in on the stock and in any sort of corrective phase, I think Reliance and the Bank Nifty will provide support.”

He further added, “I am looking at somewhat of a midcap under performance and these large stocks ICICI Bank, Reliance etc hold the fort. This is likely to be a leader in next 300-500 points on the Nifty. So definitely on all dips Reliance is a buy.”

“This week Aurobindo Pharma crossed its 200-day moving average that is significant event and post crossing, it has run up another 50 points. So now on all declines towards Rs 700 from being sell on rally, Aurobindo Pharma is now a buy on dip type of stock. I would think given the short positions and sentiment in pharma it should quickly to run towards Rs 850-900.”